LIC IPO: Earlier, the government has made 27 amendments in the LIC Act, so that the way can be prepared for bringing IPO.
The Cabinet Committee on Economic Affairs has approved the listing of LIC in July (CCEA) itself.
Everyone is eagerly waiting for the IPO of the government insurance company LIC. The government has made a big announcement regarding this proposed issue, which is to be registered as one of the largest IPO in the world.
The government denied the news related to the LIC IPO not coming in this financial year (FY22) and said that the plan is completely ready regarding this.
Only last quarter of FY22 left
This financial year ends in March 2022, in which only about three months are left. Presenting the budget this year, Finance Minister Nirmala Sitharaman had informed about the plan to list LIC in the public market.
However, there were reports in some media circles that the government might fail to bring LIC’s IPO by March. The reason given in the news was that there is a delay in the valuation of LIC, which is very important for the preparations for the IPO.
DIPAM secretary made this claim
The Secretary, Department of Investment and Public Asset Management (DIPAM) tweeted, “The speculations that LIC’s IPO may not come in this financial year are not correct. LIC’s IPO plan is ready in the last quarter of this financial year and is moving in the right direction.
The government has made these preparations
Earlier, the government has made 27 amendments in the LIC Act, so that the way can be prepared for bringing IPO. The Cabinet Committee on Economic Affairs has approved the listing of LIC in July (CCEA) itself.
10 merchant bankers have been appointed for the IPO. It is believed that this IPO will not only bring the government closer to the target of disinvestment, but it will also be one of the largest IPOs in the world till date.Live TV
